Kohl's CEO Tom Kingsbury steps down, Ashley Buchanan from Walmart to take over

From Investing.com: 2024-11-25 17:20:55

Kohl’s CEO Tom Kingsbury steps down, paving the way for Ashley Buchanan from Walmart to take over. The department store chain aims to improve its financial profile amidst struggles with demand for trendy clothing. Sephora remains a bright spot. Buchanan, previously at Michaels and Walmart, aims to drive profitability and digital growth.

Kohl’s shares drop nearly 6% as Kingsbury’s departure signals ongoing challenges. The retailer faced high inventories and had to offer discounts to clear shelves. Net income is expected to halve to $30.54 million in the upcoming earnings report. Buchanan’s experience at Michaels and Walmart positions him well to lead Kohl’s turnaround efforts.



Read more at Investing.com: Kohl’s CEO to depart after less than two years at the helm By Reuters